The Chiba Kogyo Bank, Ltd. announced a private placement of 301,000 series 2 class 6 preferred shares at a price of ¥20,000 per share for gross proceeds of ¥6,020,000,000 on January 24, 2022. The transaction was approved by the board of directors of the company. The company will issue shares through third party allotment.

The company will incur issuance expenses of ¥60,000,000 including registration license tax, value calculation cost of preferred stock, attorney fee and financial advisory fee. The transaction is expected to close on February 28, 2022.